Having A Pet Can Increase Your Homeowners Insurance Rates

When evaluating your home insurance policy, you should review whether or not your family pet is listed. If you need to add a pet, be aware that your home insurance premiums may go up. However, the coverage that you are provided with is invaluable in the effect of an accident. If your premiums are high, searching the internet and obtaining online insurance quotes can help you find the best price for the right amount of coverage.

Typically, in the event of a domestic animal attack on your property, your home insurance provider will cover medical expenses, as well as any civil suits that result. But if you have not added your pet to your policy, your insurance provider may claim that you falsified information, and will declare your policy null and void. This can leave you to pay thousands of dollars in legal and medical expenses. This is one of the main reasons that adding your family pet to your policy is crucial.

Most insurance providers will ask what type of pet you have. If you have any exotic or dangerous pets, such as poisonous spiders or snakes, you may have to take out an additional rider for added protection. Adding your domesticated dog or cat usually will not increase your policy, though it may. The added costs will depend on the type of breed of your animal, its size, and its history of behavior. Dog breeds that are typically associated with higher insurance premiums include Pit Bulls, Rottweilers, Doberman Pinschers, German Shepherds, Siberian Huskies, Akitas, and wolf-dog hybrids. While many of these animals can make excellent family pets with the proper training, the history of breeding to create aggressive dogs will usually cause insurance companies to raise your premiums.

The size of your pet is another factor in the cost of your home insurance premiums. Dogs that are extremely large, such as mastiffs, or dogs known to cause major damage through acts of strength or boredom, will be hard to add to your policy. Many home insurance policies will state that damage caused to a home by a family pet will not be covered. Proper training is essential for all family pets in order to protect the value of your property, in the event that your home insurance will not cover this type of damage.

Adding a family pet to your home insurance is essential if you have one. When you add a pet to your current policy, be sure to inquire about the increase to your premium. Once you have this number, obtain a few online insurance quotes, and compare the figures received. This will help you select the best coverage at a price you can afford.

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All the Right Facts You Need to Decide if You Need Home Insurance or Not.